Exposure to coal markets as an existential threat
Orica generated $5.7 billion in total revenue in its fiscal 2021 (year-ended September 30). The three most significant end uses of the company’s blasting devices were for production of gold, copper and thermal coal. Gold markets accounted for 19.5% of total revenue in fiscal 2021, while copper and thermal coal markets were responsible for 17.4% and 15.2% of revenue, respectively. The significant share of revenue derived from thermal coal represents an inherent risk to the company’s finances since many nations are actively seeking to shift away from fossil fuels as an energy source.
COVID|ESG|Structural|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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